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MTBS3D RT @IFCSummit: Daryl Sartain is Director & Worldwide Head of #XR, Displays, and Wireless Ecosystems for @Radeon at @AMD. He is also Chair o…
MTBS3D RT @IFCSummit: Arvind Kumar is a Senior Principal Engineer for @intel @IntelSoftware. At #IFCSummit he explained the workings of the Client…
MTBS3D RT @IFCSummit: Neil Schneider’s #IFCSummit opening presentation. #CloudComputing https://t.co/CFqiNxSzPV
MTBS3D RT @IFCSummit: Our #videogames in the #clienttocloud revolution is going on now featuring @playhatchglobal @AccelByteInc @awscloud and @Sha
MTBS3D RT @IFCSummit: On stage now, the #Crypto and #Blockchain markets with Professor Bebo White @bebo and Melissa Brown, Senior Director Develop…
MTBS3D RT @IFCSummit: Finishing off our busy morning is Mark Morrison, Director of Sales for @magicleap. He was talking about Building ROI in the…
MTBS3D RT @IFCSummit: Dominique Pouliquen CEO of @CintooCloud did a live demo of their #clienttocloud technology. #IFCSummit #CloudComputing #VR h…
MTBS3D RT @IFCSummit: Next up is Stefan Holzer CTO of @fyusioninc on Democratizing #3D Content for #ecommerce. #IFCSummit #FutureComputing https:/…
MTBS3D RT @IFCSummit: Enabling an Immersive World panel moderated by Kevin Krewel of @tiriasresearch with Alex Hornstein CTO of @LKGGlass Rama Kri…
MTBS3D RT @IFCSummit: Vinay Narayan VP at @htcvive starts off the morning for us here at #IFCSummit. He is speaking on how #5G is powering the nex…
MTBS3D RT @IFCSummit: We finished the first day of #IFCSummit with a great Futurists Panel moderated by @deantak of @VentureBeat with @awscloud @D
MTBS3D RT @IFCSummit: Some highlights of our busy morning here at #IFCSummit. With @IntelSoftware @AMDPC @AMDGaming @jonpeddie #futurecomputing #C
MTBS3D RT @IFCSummit: Hours left in our #Halloween  flash sale! Take over 600.00 off the price of a ticket today only! 👻🎃🧛🏼‍♂️🧟‍♀️#IFCSummit #Clou
MTBS3D RT @thekhronosgroup: Today only! Get access to the @IFCSummit for only $349. Happy Halloween! https://t.co/eg2jOce4eQ
MTBS3D RT @IFCSummit: #Halloween flash sale! Take over 600.00 off the price of a ticket today only! 👻🎃🧛🏼‍♂️🧟‍♀️#IFCSummit #CloudComputing #CloudGa
MTBS3D RT @TheFoundryTeam: Mathieu Mazerolle, our Cloud Product Manager will be speaking at The @IFCSummit running November 5-6, 2019 at the Compu…

Oculus VR Acquired by...Facebook?


MENLO PARK, CALIF. – March 25, 2014 – Facebook today announced that it has reached a definitive agreement to acquire Oculus VR, Inc., the leader in immersive virtual reality technology, for a total of approximately $2 billion. This includes $400 million in cash and 23.1 million shares of Facebook common stock (valued at $1.6 billion based on the average closing price of the 20 trading days preceding March 21, 2014 of $69.35 per share).  The agreement also provides for an additional $300 million earn-out in cash and stock based on the achievement of certain milestones.

Oculus is the leader in immersive virtual reality technology and has already built strong interest among developers, having received more than 75,000 orders for development kits for the company's virtual reality headset, the Oculus Rift. While the applications for virtual reality technology beyond gaming are in their nascent stages, several industries are already experimenting with the technology, and Facebook plans to extend Oculus’ existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas.  Given these broad potential applications, virtual reality technology is a strong candidate to emerge as the next social and communications platform.

"Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow," said Facebook founder and CEO, Mark Zuckerberg. "Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate."

"We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world," said Brendan Iribe, co-founder and CEO of Oculus VR. "We believe virtual reality will be heavily defined by social experiences that connect people in magical, new ways. It is a transformative and disruptive technology, that enables the world to experience the impossible, and it's only just the beginning."

Oculus will maintain its headquarters in Irvine, CA, and will continue development of the Oculus Rift, its ground-breaking virtual reality platform.

The transaction is expected to close in the second quarter of 2014.